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I have written a couple of times about the JBC stock trading – stock market – share price prediction scam.

Nearly two years later, and after many complaints to regulatory authorities, they still seem to be in business.

JBC Global, CFS Live, and anything associated with them, are an outright fraud.

Some of the names given by its ‘senior analysts’ (telephone con agents) are: Paul Harvey, Chris Wallace, Mike Boyd, Bruce Jones, Scott Brennan, David Moore, Adrian Mathews, Gareth Hughes, Philip Duiker, Chris Davis, Danny Cook.

It is likely that these names are invented, as is the ‘senior analyst’ title.

JBC’s website is still active, but is now pretending to be wider than merely stock trading software. It claims to be a comprehensive business development group, offering software development, employment services, and project management. No matter where you enter your details on this site, you will receive a phone call offering to send you a brochure outlining JBC’s services.

This will be an impressive looking, professionally designed and printed brochure intended, like their website, to give an impression of wealth and stability. You will then receive a follow up phone call, offering you one of a very limited number of licenses. If you express doubts, you may be directed to scam websites which appear to review other, legitimate home business or investment packages, and which give glowing reviews, or even awards, to JBC’s program.

All of this is true of CFS cfs-live.com (I am not giving them a link). The same professional website, the same professional looking brochure, the same skanky con-men on the phone.

I suspect that cfs-live is simply a re-badged version of the JBC share price / stock prediction / share trading scam.

There are plenty of these swindlers around. The PCA (position cost averaging) system is another one, complete with its own fake independent review site at stocktradingeguide.com.

JBC and CFS are the stock trading scams which seem to be most active in Australia.

I am not sure why regulators and police seem unwilling or unable to do anything about these thieves. But as long as they continue to operate, ordinary Asutralians are losing their savings.

I intend to get in touch with A Current Affair or Today Tonight and suggest they do a story on JBC and CFS.

If you have been contacted by these groups, and would be willing to share your story, please add a comment using your correct email address (not visible to the public), or contact me – see my profile page for my email address.

Update:

CFS is definitely still active in Australia. I have received emails from a gentleman who spent $8900 in January to buy their programme. For $8900 he got a disk and a booklet, and a folder to put them in.

From his descriptions, the CFS package is identical to the JBC programme.

The software gives a points value to different stocks.  You are supposed to look at the points value and decide what to buy and sell.

The points value appears to be based on sudden movement of stocks up and down. For example if a stock has been stable for a long time and then suddenly drops, it will get a high points value – that is, a buy recommendation – on the basis that it is likely to come back up again just as quickly.

These are frequently very bad recommendations.

The recommendations are bad because the programme has no idea what is going on the real world. A stock that suddenly decreases in value usually does so for a good reason.

Stefan left this comment at one of the earlier JBC / CFS posts:

I’ve been contacted by a chris of cfs. He was trying to sell cfs end of day trading software. he gave me the websites gfmo.org homebusinessprofessionals.biz which have reviews of their software but the net has no links to these sites or to cfs which means they are all probably a bit dubious. His phone number was 1300 441 355.

GFMO and homebusinessprofessionals are  fake ‘independent’ websites, set up by JBC/CFS to reassure prospective buyers.

Referring prospects to fake sites to give an appearance of legitimacy makes it clear that the JBC or CFS packages are not  products offered in good faith.

Don’t fall for these scams!

394 Responses to “JBC Global, CFS Live, ESL Trader Stock – Share Trading Scams”

  • Recently I spoke to someone who bought ELS Trader. They contacted me regarding thier interest in our accedited course on share trading so they could learn to trade. Their story was similar to many on this post and to what I have heard hundreds of time before. Gvien this they were not happy with my responce as to the quality of the software in question. After doing some research I rang the person back to advise them they had lost thier money and be careful about using the software in an attempt to trade the market.

    Today I found this fantastic blog and have posted a link to it on our facebook site asking my clients to forward it to all thier friends. I have also sent a message via my twitter account which goes to a number of media personalities and jounralist that I know. I was also only talking about this sort of thing to some journalist only a week ago and will now forward the link to these people.

    If everyone does thier bit then maybe we can stop more from loosing money as this blog has already started to do.

  • Tim says:

    I too had the same thing happen to me. I had a woman call asking to send the brochure, to which i agreed just to get off the phone.
    When the brochure arrived i threw it straight in the bin.
    i had a guy call today using the name George Summers pressuring me to sign up and to disregard my wife’s opinion. Everytime i mentioned ‘risk’ he tried to tell me there was no risk what-so-ever and quickly changed the direction of the conversation.
    Left me his call back number which is the same as above.

  • Edward says:

    For the past 2 days I have been speaking to a Senior Analyst – Adrian Moore at ESL. He has been trying to convince me that $9,200 for the ESL software is money well spent and that there were only 2 spots left out of the 400 licenses. But having been in the banking industry for many years, “easy money” usually means trouble/scams.

    This blog just confirmed my suspicions and have saved my hard earned money. Thank-you all for the insights and investigations.

  • Margaret says:

    Someone called Adrian was the same person who spoke to me. Same story, only two licenses left. He really tried to make me feel he was doing me a favour holding on to that license while I dithered when there were other people lining up to get it. So glad I didn’t fall for it. I don’t know how these people can live with themselves.

  • Nigel says:

    I have no idea what these people are talking about, I use the system and it works great!

  • harry says:

    I dear say competitors Nigel, this site promotes and advertises forex programs, typical corporate sledging, nothing new. Can you get me a copy of the programme, they have sold out in my state?

  • John says:

    Glad i came to this website.
    when they called, it sounded just like a boiler room style.Watch the movie and you’ll see what i mean. He was pushy and called every day in an attempt to get me to sign up. even saying “it’s up to you in the end” but then went on and on pushing the “sale”. Besides, if the returns are so good, why bother selling the product and concentrate on making the money with the software. also the arbitrage or whatever they are saying just evaporates then if everyone knows what you are doing.

  • Dave says:

    Nigel – if the system works so well, prove it.Post some of the buy/sell alerts the system gives you, and we will watch to see how the shares perform.

  • Peter says:

    In two minds about whether to remove the posts by ‘Nigel’ and ‘Harry,’ which are fakes/shills.

    The over 100 people who have commented on this post and others on the same subject are not disgruntled ex-employees of JBC, CFS or ESL. They are people who have been ripped off by shameless con-men.

    Nor are the people who have had their money stolen competitors. Nor does this site promote or sell any forex or other financial products.

    Posting fake comments is typical of JBC, CFS, ESL practice, which is to tell whatever lies are necessary to make the sale, and then to abuse anyone who dares complain.

    And incidentally, this website records commenters’ IP addresses. The ‘Nigel’ and ‘Harry’ comments were both posted from the same computer.

    It has also recorded the IP addresses of computers from which abusive and threatening comments have been sent.

    So ‘[email protected],’ ‘[email protected]’ ‘[email protected]’ etc, just keep in mind that police are able to trace your IP address to you.

    If you call dishonest and unscrupulous people to account for the harm they do, they are likely to respond in dishonest and unscrupulous ways. But these bastards will get their comeuppance eventually.

  • Suzy says:

    Without the ability to provide names and addresses it is all a bit pointless. Is it possible to display a link to a site that has that information so the scammers can be identified. They are active in both the UK and Australia but the top two run both.

  • Dale Gillham says:

    Everyone posting in this blog about their experiences should congratulate themselves fortaking the time to do thier research. Know that for every post there is about 10 others who just read, and as such you are helping many by posting. I agree with Peter that Nigel and Harry are fake, if you are. Not please email me as I am a professional trader, fund manager and educator who has never seen a software program that can do what ESL and others promote. My email is Dale Gillham at [email protected] if I can sack my expensive analysts for a software program then please share with me. I warn you though I have heard all the BS from companies like these for decades so won’t be easy to convince. Unlike you, people can google me to see who I am and email me personally to verify who I am.

    If anyone reading this post seriously thinks that they can make money buying this overpriced software, then they need to do two things. Firstly visit the ASIC website and visit scams in their Money Smart section of their consumer website. Secondly email me and I will give you a reality check for free, so you can keep your $ 9k

    Further to my post last month I have sent continued to send information to media about this subject and suggest others do too as this is a fast way to stop others getting stung.

  • Suzy says:

    Peter

    Can I suggest that you add ESL Trader to the title of this page. That will allow Google to crawl the page and index it with the ESL Trader name in the scam warning.

  • Peter says:

    Good suggestion, thanks. Done.

  • Dale Gillham says:

    Whilst not a software program the Sydeny Morning Herald article I found today is interesting reading for anything looking at attending investing/trading/wealth careation seminars. Watch out for the spruikers.

    http://www.smh.com.au/business/delving-into-the-dark-side-of-shadow-brokers-20110812-1iqsz.html

    In short do your own independant research, talk to ASIC and if in it sounds too good to be true don’t do it!

  • Suzy says:

    Peter
    The ESL Trader title is not in your header.

    It is a shame that this blog has gone tame. You have Phi and Rhys on the run and scared. You had the feature writer wondering if she would be sued. In fact you had done a good job.

    Now they think they are safe.

    A shame really.

  • Peter says:

    Suzy I added the words ESL Trader to the title of this page as you suggested. Perhaps I misunderstood you. Did you mean something else?

  • Peter says:

    The post title is JBC Global, CFS Live, ESL Trader Stock – Share Trading Scams,

    The permanent link to this post is:

    http://www.qohel.com/2011/03/02/jbc-global-cfs-live-and-esl-trader-stock-share-trading-scams/

    If you enter esl trader scam into google search, this is the number two listing.

    I am not sure there is much more I can do!

  • Nancy Long says:

    So much for being an ‘independent conservative blog’ this site appears to only publish one side of the story.. The feedback i’ve tried to post a number of times is not granted a post. Dubious indeed!

  • Nancy Long says:

    I came across this site as I have a friend running the ESL Program and I was searching some further info on the company. Rather disconcerting to see so much negative feedback on ESL, considering I am interested in buying the program myself. I wonder how much of this is in fact heresay and written by people genuinely running the program. Given his experience with ESL I can’t honestly see how it can be called a scam!? He received everything that was described pre purchase, was promptly delivered the program and has had ongoing support ever since.
    It’s been very interesting to watch his progress especially as I have a large portfolio managed by a broker. Over the past 6 months my managed fund through my broker has gone significantly backwards, trading mainly a blue-chip portfolio. During the same period my friend has achieved a good steady return using the program, albeit there was one month that didn’t go so well with the US Debt Crisis impacting the entire market. Since that time he has been achieving a good consistent return and my managed fund has been subjected to a fair amount of ridicule. He runs two settings, one on medium to high risk and also one focusing on blue-chip stocks.

    Now considering I pay a lot of money in fees to my broker, as opposed to a modest cost my friend paid to purchase the ESL Program, I am very impressed. He has regular contact with his one on one advisor who has guided him through the process from day one and is at his beck and call as required. He’s not running the program ‘fully automated’ or anything silly like that, but at the click of a button, the program does all of the charting and analysis resulting in a list of options each day to invest into. He applies his own input then into the decision making process and once he makes his selection he can track the stocks through the program which, based on his preferences, will recommend when to sell. His preference is to manually buy or sell through the broker, rather than placing automatic orders.

    I think that I was a bit pessimistic initially, especially with the claims about its historical performance, however having seen first-hand that it can outperform conventional methods of trading and am seriously considering an opportunity to get involved myself. I will however certainly be getting him to ask some questions about the content of this website before I proceed.

  • Peter says:

    Not a good start ‘Nancy!’ No one with your name, or using your email address, has had any comments rejected. You are welcome to post comments. Just check – the only comments from you have all been approved. Don’t assume because comments from a first time user take a little while to be moderated that they are being censored. That is not what we do.

    If you really do have a success story to share, then by all means share it.

    Don’t just say ‘This works for me, you must all be doing something wrong, or ‘A friend of mine has this and it works for him.’

    Show us that the program recommended certain stocks to buy on a certain date, recommended to sell those stocks on a certain date, and that the wins you had outweighed the losses.

    If you can do that, I am sure everyone would be interested.

    Until then, the reality is that every genuine user we know of regards this programme as a deliberate scam.

  • Nancy Long says:

    Thank you Peter, as above I am most grateful for your site bringin to my attention the negative aspects of this company/program. I felt that by not posting my feedback that you were being somewhat biased, however I see now this is not the case. I will talk to Greg about logging the recommended stocks through your site. (Please note that there is a double up on my post where I tried twice to log the entry)

  • Roger says:

    Just had a call from Peter from ESL, spent a good 20 min hard sell on the phone, I must admit he was a very good sales person, having had some experience in that area, I would have to congratulate him on his abilities, and awesome sales script but he was too good! Peter was a highly trained and experienced cold-caller not a trader and why was he pushing so hard on the sell with a product that should be making him a fortune! Then came the punch line – the “Fear of Loss” close with only 4 licences left @ $9000. Ahhh thats pay dirt for a good salesman, I would hazard he would get around 50% commission. But dont worry – if you cant afford $9000 up front take 50% up front and pay the rest when you make your first $20000! so you only get ripped off $4500! still not a bad days work for Peter – SCAM!

  • Ed says:

    I have been approache by a number of people from esl and unfortunately curiosity got the best of me and I paid 4900 for a piece of crap software that seems to be picking stocks at random. Hit rate of a good trade is less than 1 in 20. Do not buy anything that sounds too good to be true . There is nothing called easy money. I have contacted them for a refund but they are giving me the run around as you would expect. I will waste their time if I don’t get my money back. I will take them to tribunal and then they’ll be forced to settle.
    I will keep everybody updates with the latest… We’ll see if I ever get to someone in “accounts” to issue a refund.

    Do not buy anything from esl.

  • Suzy says:

    Nancy writes well doesn’t she? After all she has to do those fake interviews, invent awards that are years old for sites created yesterday, make up testimonials etc.

    I presume the hardest thing Nancy has to do each day is lie straight in bed.

  • Peter says:

    I don’t think that is quite fair Suzy. Nancy probably genuinely is trying to work out whether ESL is legitimate or not. It did take me a little longer than usual to approve her comments, so it was reasonable she thought they had simply been censored or ignored. Amongst all the hundreds of people wo must have bought this scam software, there may well be a few who had a winning streak up front, so talking about a positive experience is OK. Of course that no more tells you this is a genuine product than the first few wins in a dodgy poker game. ESL CFS and JBC, and all who sell them, are still, to use the words of Han Solo, a slimy worm ridden piece of filth.

  • Suzy says:

    I am sure I know who Nancy is Peter, so no I don’t think I am being unfair. Look at the way her posts are written and Rhys’s email to you… look similar?

    Unless we can exposure these people with their real names, addresses and even photos we are not going to get far. If you saw the lifestyles they lead at the expense of others you would be much more angry than you are now.

    Didn’t Willy give you the office addresses? The leads and support companies in Surfers Paradise have the two head rats there each day so it would not be hard for persons wanting to discuss refunds to reach the right people.

    Unfortunately they tink that sticks and stones may break my bons but words will never hurt me. So we can call them all the names we like but they will just order another bottle of Moet (that is if the waiter understands what they call ‘Moeea’ actually is)

  • Suzy says:

    Peter

    Here is a suggestion for all the people who read these posts. You all know that the scammers hide behind ‘Private registration’ domains.

    We should register some and using wordpress allow people to post content including addresses, photos, phone numbers etc.

    Now I will suggest some names which are purely fictitious as we have no reason to believe the real people are associated with this scam.

    But: RhysAdamScammer.com, PhilTraversScammer.com,DavidHewardScammer.com, TroyMoncriefScammer.com could be used until such times as domains that identified the real slime behind the scam.

    What do you think?

  • suzy says:

    And mb.com

  • Jane Russell says:

    Satan whispers in Ears but God shouts to the heart!

  • Suzy says:

    Jane, exactly what does that mean?

  • Shimmy says:

    These people seem to think they know me and I writing stuff about them so I thought I would have a look.

  • Suzy says:

    Jane if you were a true Muslim supporter (based on your quote above) you would not condone the stealing of money from people by these scammers. You would regard them as Satin.

    To the scammer sellers I say, in Jane’s name “If an evil impulse from Satan provokes you, seek refuge in Allah. He is All-Hearing, All-Seeing. Remember Allah and try to live a pious life. By arming ourselves with the weapon of dhikr and ikhlas (sincerity in worship of Allah), we can defeat Satan.”

  • Abu Ali says:

    In Sharia thiefs hands are chopped off. Sharia law is very bad, I am glad to have get away. But someitmes is a good answer to stop theiving.

  • Chris says:

    ESL and all the others are SCAMS, very impressive and very elaborate, being from a sales background myself i stood some chance of knowing about closing and last minute limited deals and having to talk to superiors, “”i’ll just look that up on my invisible typewriter” rattle a few keys etc etc. I must say they are ballsy trying to drag $9200.00 out of you in one phone call and a glossy brochure. I too don’t know how these people can sleep at night – probably on top of a pile of others peoples hard earned cash – disgusting really. Just another bit of information, there is over 110 deregistered companies with similar intitials and names to ESL, they keep getting shut down and just open another company with a similar name. Take care everyone – off to do some real work. CK

  • Margaret says:

    Perhaps some chopping off hands would not be such a bad thing.

    I have never been a violent person, but ESL cost my husband and I the money we had saved for most of the last ten years of our working life, which we hoped to use to buy a campervan and travel around Australia. We have both worked in low paid jobs, and this was going to be our retirement, the reward we had planned for, and scrimped and saved for.

    We thought ESL might be a way to extend our savings, so that we could travel for a little longer. I was given all the websites and checked them and it all seemed OK. Now that dream we worked for for years is gone.

    What amazes me is the ACCC can fine Harvey Norman for putting something in the fine print they thought should have been bigger, but they won’t do anything about these thieving scum.

    I don’t think I could actually chop someone’s hand off myself, but I would be happy to sit on any of these people and hold them down while someone else does.

  • Watson says:

    Police swoop on Gold Coast call centre

    Authorities have shut down a Gold Coast call centre believed to be at the heart of an alleged investment scam.

    No charges have been laid but police are urging anyone who has received unsolicited contact from a company known as West Trade or Atlas Lead Generation to contact them.

    Perhaps people could call Crime Stoppers on 1800 333 000 and report the ESL, CFS-Live scams. I read above in a post that you have been given the Company names and addresses for these scammers Peter. Perhaps you could pass that on to Crime Stoppers.

  • Dave says:

    I would just like to say that yes CFS etc and ESL are a total SCAM. I was unfortunate enough to actually work for them as a sales person.

    Just to be clear at that time I was in real need of an income due to a family split, when I look back now its obvious to me, but at the time I convinced myself it was all above board.

    Thankfully I was not as good at the pressure sales techniques used so only made a few sales, also, these were all done on a credit card so I can actually sleep at night knowing that no individuals will have lost money.

    Rhys was the guy who headed up the uk side, and a guy called Paul was the Manager so to speak. I believe Paul owns and runs a restaurant in chigwell btw for anyone who wants to go searching.

    Bottom line is almost everyone who worked there was a scumbag, and people shud stay well clear.

  • ESLscammer says:

    If you want to see how your scammed money is being spent or where to go for a refund visit
    http://eslscammer.wordpress.com

  • Don says:

    Are these one and the same as MCI/Tomatoe Technologies and all that Star Trader stuff from the late 90’s mid 2000’s ?

    Wasn’t Larry Pickering involved in all that ?

    I thought they’d all be behind bars by now serving lengthy terms.

  • Don says:

    This got me thinking and I just did some digging. Didn’t have to look far.

    http://www.crimesagainstfathers.com/australia/Forums/tabid/82/forumid/3/postid/21/scope/posts/Default.aspx

    Makes you sick that Anna Blight would entertain this old mongrel.

    Why am I not surprised though.?

    And to think that this is the same two faced woman shedding the tears over the Qld floods.

    Now she is fraternising with a known criminal scumbag who has ripped off hundred of hard working Aussies.

    She is disgusting.

  • Don says:

    What is it about Qld (the Gold Coast in particular) that makes it a mecca/home to just about every con man and 2 bit crim in the country ?

    Every time I see a company is based on the Gold Coatht I run a mile. What a corrupt and vice ridden dump.

    Larry Pickering appears to be the ‘Godfather’ and mastermind behind all this crap.

    Isn’t it time he faced the music? What on earth is wrong with the system up there ?

    He’s been getting away with this stuff for years.

    Wake up Qld.

    Don.

  • Don says:

    …..Reading even further I wouldn guess that quite a few Qld Pollies, ATO staff and Qld Police etc ect are all on a kickback.

    I’m starting to think the corruption in the State Of Queensland runs deep.

    If this was exposed, half of Qld’s Gov, Police, ATO etc ect would all end up doing time. (They’d probably have to borrow some interstate magistrates as half of them would be implicated too).

    I bet old Fanna Blight hereself is on a nice fiddle with Lazza Picklebottom.

  • Rick says:

    Don,

    I think you’ll find it was Jamie Pickering that ran MCi Technologies and Tomato Technologies, they are still around. Jamie recently baught a penthouse for 2.5Million, and team mate Craig Duffy was his right hand man

    http://www.goldcoast.com.au/article/2011/01/31/287965_gold-coast-real-estate.html

  • Taylor G. says:

    Hi All, my opinion after some research is that this originated from the US. Has anyone else looked at the company’s operations overseas? ESL Incorporated was founded in the US and engaged in software design, systems analysis and hardware development. The main men behind this are William J Perry and Joe Edwin Armstrong.. They also appear to have links back to the White House, gulp!!

  • Don says:

    Thanks Rick,

    It’s all a web of intrigue that needs a criminal investigation.

    And Taylor G,

    Yes, the corruption around all this stuff runs deep. Very deep.

    Thats my theory as to why it just goes on.

    There are obviosly certain individuals who have a lot of clout (among the pigs, ato, gov etc) who are all on the take.

    So this monster has tentacles that go right back to the good ole USA eh ? That doesn’t surprise me either.

    Just hope enough people read stuff like this so at least we can put a large dent in these scumbags profits.

    If everyone was educated and wise to these con men, they’d be finished overnight.

  • John says:

    Thank you for the information on this site. I was about to make a silly $9000 mistake by the looks of it.

    “Sarah” and “Tony” have been trying to sign me up for a few months. I started to suspect after the lack of depth in the websites i.e. ESL (not even an address, CEOs name etc) and esharemagazine.com which mentions ESL but seems to have only ever had one e-issue, in 2009, even though the website was transfered to a new web-hosting service on 21/6/11 – strange.

    Their physical address of Level 46, 1 Farrer Place Sydney is the address for Waterfront Executive Offices which rents small “workstations” for small companies with a shared receptionist.

    ESL was also deleted from wikipedia on 27/10/11 on evidence of it being dodgy.

    Thanks again to all who have given their experiences – you saved me.

  • Dale Gillham says:

    Just checked in to see if this post is still alive and well, and was pleased that people are still posting and reading comments.

    To update you I am the only person who has put their full name an email on this thread with the intention of having anyone that has used this program successfully other for that matter to contact me. To date no one has contacted me. Enough said!!

    As a professional trader, a program like ESR would save me a lot of time and effort if it could make the money they promise. To this date no one has proven to me that it or any other over the top expensive program works better than what is on top of my shoulders.

    So think about it, if a professional won’t use it why should you? So stop dreaming of riches, the best investment you can make, is in yourself.

    Dale Gillham

  • Peter says:

    Hello!

    I have not been able to log in and post or check comments for a few weeks.

    I will leave the comments suggesting sharia type punishements. No one is going to take them seriously as a call to action, and it does no harm for the perpetrators of these scams to understand how deeply ordinary people are hurt, and how angry, when the money they have struggled to put aside to make their retirement a litte more comfortable, or saved for some special purpose, is stolen by a bunch of sociopaths who live in Gold Coast mansions and tool around in sports cars.

    I will, however, remove the links to his site from Dale’s two comments.

    I am glad to have input from people with knowledge of the stock market and financial industry. But it is important that there be no suggestion that this blog has an interest in or benefits in any way from promoting any particular scheme, product or service.

    The only links to any products on this site are to books on Amazon, and the only advertising is Google ads, the content of which we have no control over.

    We receive threats and blackmail about criticisms here by me and commenters about JBC, CFS and ESL. We receive no financial benefit whatever.

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